Income for life annunity
I’m 74 and retired, I’ve been taking income for 11 years, currently there’s enough equity to continue paying for 10 years. I use the distributions to cover rmd requirements for other annunities that pay a lesser interest rate. Should I leave it as is, cash out and move it, or reallocate to a fixed income . There is no fee to cash out and the yearly charge is 0.75% for the income for life rider and it’s invested in a yearly pt. to pt product with a 2%cap.
Terry Says
It’s hard to give advice on this complicated product — and I don’t know how it fits into your other investments, and income needs.
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